SteelPeak Wealth LLC Acquires New Position in Tapestry, Inc. $TPR

SteelPeak Wealth LLC acquired a new position in shares of Tapestry, Inc. (NYSE:TPR) during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 14,596 shares of the luxury accessories retailer’s stock, valued at approximately $1,865,000.

A number of other large investors have also recently bought and sold shares of TPR. State Street Corp grew its stake in Tapestry by 19.3% during the 3rd quarter. State Street Corp now owns 9,229,777 shares of the luxury accessories retailer’s stock worth $1,044,995,000 after buying an additional 1,494,193 shares during the last quarter. SRS Investment Management LLC boosted its holdings in shares of Tapestry by 12.4% during the second quarter. SRS Investment Management LLC now owns 5,332,824 shares of the luxury accessories retailer’s stock valued at $468,275,000 after acquiring an additional 589,000 shares during the period. Schroder Investment Management Group grew its position in shares of Tapestry by 21.1% during the third quarter. Schroder Investment Management Group now owns 4,849,371 shares of the luxury accessories retailer’s stock worth $549,046,000 after acquiring an additional 846,553 shares during the last quarter. AQR Capital Management LLC grew its position in shares of Tapestry by 21.4% during the third quarter. AQR Capital Management LLC now owns 4,307,615 shares of the luxury accessories retailer’s stock worth $487,708,000 after acquiring an additional 760,646 shares during the last quarter. Finally, Northern Trust Corp increased its holdings in shares of Tapestry by 7.6% in the 3rd quarter. Northern Trust Corp now owns 2,870,821 shares of the luxury accessories retailer’s stock worth $325,034,000 after acquiring an additional 203,520 shares during the period. Institutional investors own 90.77% of the company’s stock.

Insider Buying and Selling

In related news, Director Anne Gates sold 6,498 shares of Tapestry stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $153.79, for a total transaction of $999,327.42. Following the transaction, the director directly owned 22,698 shares of the company’s stock, valued at $3,490,725.42. The trade was a 22.26% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Denise Kulikowsky sold 9,166 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $155.62, for a total transaction of $1,426,412.92. Following the completion of the sale, the insider owned 26,942 shares in the company, valued at approximately $4,192,714.04. This trade represents a 25.38% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 164,956 shares of company stock worth $25,297,262. 1.32% of the stock is owned by corporate insiders.

Tapestry Stock Up 0.1%

Tapestry stock opened at $141.35 on Friday. Tapestry, Inc. has a 52 week low of $58.39 and a 52 week high of $161.97. The stock has a market cap of $28.62 billion, a price-to-earnings ratio of 58.41, a PEG ratio of 1.69 and a beta of 1.59. The company’s 50-day moving average price is $144.98 and its two-hundred day moving average price is $126.99. The company has a current ratio of 1.63, a quick ratio of 1.10 and a debt-to-equity ratio of 4.32.

Tapestry (NYSE:TPR) last issued its quarterly earnings results on Thursday, February 5th. The luxury accessories retailer reported $2.69 earnings per share for the quarter, topping analysts’ consensus estimates of $2.20 by $0.49. Tapestry had a net margin of 6.95% and a return on equity of 157.98%. The company had revenue of $2.50 billion during the quarter, compared to analyst estimates of $2.29 billion. During the same period in the prior year, the business posted $2.00 EPS. The business’s revenue for the quarter was up 14.0% compared to the same quarter last year. Tapestry has set its FY 2026 guidance at 6.400-6.450 EPS. On average, analysts expect that Tapestry, Inc. will post 4.91 EPS for the current fiscal year.

Tapestry Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 23rd. Stockholders of record on Friday, March 6th were given a dividend of $0.40 per share. The ex-dividend date was Friday, March 6th. This represents a $1.60 annualized dividend and a dividend yield of 1.1%. Tapestry’s dividend payout ratio (DPR) is 66.12%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on TPR. Guggenheim assumed coverage on shares of Tapestry in a research report on Tuesday, December 9th. They issued a “neutral” rating on the stock. UBS Group restated a “neutral” rating and issued a $141.00 price target on shares of Tapestry in a research note on Monday, February 9th. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $170.00 price target on shares of Tapestry in a report on Friday, February 6th. Citigroup boosted their price objective on Tapestry from $152.00 to $165.00 and gave the stock a “buy” rating in a research report on Friday, February 6th. Finally, BTIG Research increased their price objective on Tapestry from $140.00 to $175.00 and gave the stock a “buy” rating in a report on Friday, February 6th. Two research analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, Tapestry currently has a consensus rating of “Moderate Buy” and an average price target of $151.06.

About Tapestry

Tapestry, Inc is a New York City–based house of fashion brands that designs, produces and distributes a range of accessible luxury and lifestyle products. The company manages a portfolio led by Coach, along with Kate Spade New York and Stuart Weitzman, each offering distinct product lines that include handbags and leather goods, footwear, ready-to-wear apparel, accessories, small leather goods, jewelry and lifestyle items. Tapestry’s operations encompass product design, marketing, wholesale partnerships, retail store operations and digital commerce.

Historically, the Coach brand traces its roots to a leather workshop in New York dating to the mid-20th century.